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PHH Boosted by JPMorgan, Wells Fargo

The servicer for mortgage and fleet industries will see earnings grow.

April 17, 2012

PHH (NYSE: PHH) By Sterne, Agee & Leach ($15.26, April 16, 2012)

Results at JPMorgan Chase and Wells Fargo point to first-quarter 2012 mortgage-origination volumes in line with to above that seen in the fourth quarter of 2011, higher gains on volume, and flat-to-higher mortgage-servicing rights values.